Pindrop Secures $100 Million in Funding
Pindrop, an Atlanta, Georgia-based voice authentication and security solutions provider, has secured $100 million in funding.
The debt financing was from Hercules Capital, Inc., a business development company providing private equity, venture debt, and growth capital to privately held, venture capital-backed companies. They invest at all stages of development, from mid-venture to expansion stage, and selectively in public companies and special opportunities. Founded in 2003 and based in San Mateo, California, with offices in North America and Europe.
The company will use the funding aims to further develop its advanced audio, voice, and AI technologies.
Founded in 2011 by Dr. Vijay Balasubramaniyan, Dr. Paul Judge, and Dr. Mustaque Ahamad, Pindrop is a cybersecurity software company that provides voice security and authentication solutions. Its solutions protect some of the world's biggest banks, insurers, and retailers using patented technology that extracts intelligence from every call and voice encountered. Their mission is to shape the future of voice security and authentication against the rising threats mainly caused by generative AI. To date, Pindrop has analyzed 5.3 billion calls, prevented $2 billion in fraud losses, and detected 104 million spoof calls.
Funding Details
Company: Pindrop Security, Inc.
Raised: $100M
Round: Debt Financing
Funding Month: July 2024
Investors: Hercules Capital, Inc.
Company Website: https://www.pindrop.com/
Software Category: Cybersecurity